Big businesses sign up to Net Zero Carbon Commitment

21 Sep, 2018

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Australia’s position as a green building world-leader looks set to continue with a raft of leading companies signing up to the World Green Building Council’s (WorldGBC) Net Zero Carbon Buildings Commitment.

The Commitment challenges companies, cities, states and regions to reach Net Zero operating emissions in their portfolios by 2030, and to advocate for all buildings to be Net Zero in operation by 2050. The Commitment also requires these achievements be verified on an annual basis by an independent third-party system, such as Green Star.

The WorldGBC says that by setting ambitious ‘absolute’ targets, the Commitment aims to maximise the chances of limiting global warming to below 1.5 degrees by drastically reducing operating emissions from buildings.

A net zero carbon building, as defined by the WorldGBC, is highly energy efficient and is fully powered on-site or by off-site renewable energy sources.

In Australia, AMP Capital Wholesale Office Fund, Frasers Property Australia, GPT Wholesale Office Fund, Stockland’s retirement living and logistics divisions, Cundall, and the City of Sydney have entered into the commitment, the first in Australia and among the first globally to do so.

Green Building Council of Australia (GBCA) CEO Romilly Madew said the resolution of Australian businesses to aspire to the targets demonstrated that more than ever before leading companies are driving innovation while delivering on emissions reduction goals, which inspires others to follow their lead.

“This not only cuts costs but drives investment, as more consumers seek out environmentally responsible companies.”

The Commitment is one of three pathways to join EP100, an initiative of The Climate Group, which will comprise 100 large-scale organisations at the cutting edge of sustainable practice.

In June this year, the GBCA also released its Carbon Positive Roadmap, in consultation with industry and government, which establishes the steps required for commercial, institutional and government buildings and fitouts to decarbonise.

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Sage Media Group is based in Australia, specialising in trade publications across both print and digital media. National Resources Review is the flagship masthead and Build Australia is the company’s second title.